Economists were unimpressed by India's $9.94 billion fiscal stimulus package announced on Monday, with one of them saying it was "underwhelming."
Girls wearing protective face masks wait to pray inside temple premises on the occasion of the annual harvest festival of Onam, amidst the spread of the coronavirus disease , on the outskirts of Kochi, India, August 31, 2020.SINGAPORE — Economists were not impressed by India's latest economic stimulus aimed at boosting domestic demand by about 730 billion rupees — and some questioned if the new measures can spur long-term growth.
"With the previous rounds of budgetary fiscal support around 1% of GDP, today's demand stimulus measures take total fiscal support to about 1.2% of GDP, which is small compared with the size of the growth hit, and reflects India's weak fiscal starting position," said Nomura's chief economist for India and Asia ex-Japan, Sonal Varma, and India economist Aurodeep Nandi.
Source: Financial Digest (financialdigest.net)
Economists and investors are beginning to doubt the veracity of other data and particularly this mysterious ratio...🤔🤔🤔
When are economists ever impressed?
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